| Islamabad: Al Nahang, an overseas Pakistani group, has proposed a substantial Rs125 billion offer to acquire the struggling national carrier. As part of this proposal, the group has pledged to settle PIA’s massive Rs250 billion debt, providing a potential path forward for the debt-ridden airline.
Al Nahang’s formal offer, reportedly submitted via email to Pakistan’s ministers of privatization, aviation, and defense, outlines an ambitious plan to overhaul PIA’s operations. The proposal includes a commitment to retain all current employees, paired with a phased salary increase plan that promises to double employee wages over 30 pay periods.
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Additionally, Al Nahang has presented a detailed business model for PIA’s future, which emphasizes modernizing the airline’s fleet by adding newer aircraft and transforming PIA into a regional maintenance hub for other carriers.
In a separate development, PIA is actively seeking a new chief executive officer to replace Amir Hayat, whose term has recently ended. An official advertisement invites qualified candidates aged 45-57 years with 20 years of experience managing large corporations—or at least a decade in aviation management—to apply within 15 days. |
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